Full Version: SLO
I got a SLO today.
Congrats, BigGuy! Hope springs eternal. 
Nice numbers for you, I assume?
PS: Happy Birthday! Looks like your big day is off to a good start!
Nice numbers for you, I assume?
PS: Happy Birthday! Looks like your big day is off to a good start!
QUOTE
PS: Happy Birthday! Looks like your big day is off to a good start!
They kinda have away of sneaking up on ya. The big 
QUOTE
Nice numbers for you, I assume?
I am not going to retire with this one but I think it should work well. This is a little older house about 1200 s.f. in a well known good neighborhood where all the houses are around 1200 to 1500 s.f. The house is in great shape inside and out. Low market rent and price so I should have a positive tenant/buyer demand. The numbers are below.$130K my price
$145K market price
$800. my rent
$895. market rent
3 year lease term
QUOTE (<Steve> @ Apr 28 2010, 08:23 PM) 
QUOTE
PS: Happy Birthday! Looks like your big day is off to a good start!
They kinda have away of sneaking up on ya. The big Those numbers are fine. Especially the three year term. Good luck with it.
Such a nice birthday present to yourself!
Hope you had a great one, Steve!
Hope you had a great one, Steve!
Thanks Jason-
Perfect timing and especially in this crazy market/economy we're in. It's nice to find a little Gem in the ruff.
Perfect timing and especially in this crazy market/economy we're in. It's nice to find a little Gem in the ruff.
QUOTE (<Steve> @ Apr 29 2010, 11:53 AM)
Thanks Jason-
Perfect timing and especially in this crazy market/economy we're in. It's nice to find a little Gem in the ruff.
Perfect timing and especially in this crazy market/economy we're in. It's nice to find a little Gem in the ruff.
Steve,
Whats your market like. Has it picked up at all since the tax credit. I've seen a major jump. What im hoping to bank on now is those sellers having to sell, but aren't going to becuase the incentive to buy has now ended. Deals should start pouring in all markets. Lets hope!
Hey Dion-
It has been a slower spring than usual. Typically this is my busiest time of the year, but the bread and butter properties aren't out there. I am getting a lot of response from upper end houses and lower end older homes. So it is slimmer pick'ens. It is really strange. The horror stories from sellers trying to get out of their houses due economic reasons have slowed down. So with some free time, I am looking at starting another business in addition to my L/O business. Personally I think we (the eonomy etc.) have hit bottom and are ticking up a bit and now is perfect to get into a business. In my area retail stores seem to be heating up some. I expect the end of the housing tax credit will hopefully add to the motivation of sellers in my market and I do expect a better second half to this year.
It's nice to hear you're rock'in that's a good sign.
It has been a slower spring than usual. Typically this is my busiest time of the year, but the bread and butter properties aren't out there. I am getting a lot of response from upper end houses and lower end older homes. So it is slimmer pick'ens. It is really strange. The horror stories from sellers trying to get out of their houses due economic reasons have slowed down. So with some free time, I am looking at starting another business in addition to my L/O business. Personally I think we (the eonomy etc.) have hit bottom and are ticking up a bit and now is perfect to get into a business. In my area retail stores seem to be heating up some. I expect the end of the housing tax credit will hopefully add to the motivation of sellers in my market and I do expect a better second half to this year.
It's nice to hear you're rock'in that's a good sign.
QUOTE (<Steve> @ May 4 2010, 09:03 PM)
Hey Dion-
It has been a slower spring than usual. Typically this is my busiest time of the year, but the bread and butter properties aren't out there. I am getting a lot of response from upper end houses and lower end older homes. So it is slimmer pick'ens. It is really strange. The horror stories from sellers trying to get out of their houses due economic reasons have slowed down. So with some free time, I am looking at starting another business in addition to my L/O business. Personally I think we have hit bottom and are ticking up a bit and now is perfect to get into a business. In my area retail seems to be heating up some. I expect the end of the housing tax credit will hopefully add to the motivation of sellers in my market and I do expect a better second half to this year.
It's nice to hear you're rock'in that's a good sign. ;)
It has been a slower spring than usual. Typically this is my busiest time of the year, but the bread and butter properties aren't out there. I am getting a lot of response from upper end houses and lower end older homes. So it is slimmer pick'ens. It is really strange. The horror stories from sellers trying to get out of their houses due economic reasons have slowed down. So with some free time, I am looking at starting another business in addition to my L/O business. Personally I think we have hit bottom and are ticking up a bit and now is perfect to get into a business. In my area retail seems to be heating up some. I expect the end of the housing tax credit will hopefully add to the motivation of sellers in my market and I do expect a better second half to this year.
It's nice to hear you're rock'in that's a good sign. ;)
All that sounds familiar. I took most part of the begining of the year off. And now Im back, I get the same treatment.
Theres a time and a place for everthing. Im up late nights doing marketing. Pumping out emails to potential T/B's to get my inventory sold.
The market here is right back to crazytown. Average days on market is 20 with any house reasonably priced selling above asking with multiple offers. But of course we had almost no economic down turn compared to western Canada and the US.
Man, I am shocked to read that some markets are rocking and rolling. Here in south FL, it's nowhere near that. How can it be? Last month's unemployment figure for the state was at an all time historical high of 12.3%. 
How can we have a healthy housing market with such a sick job market?
Still loads of inventory, especially in the condo sector. Banks are holding huge blocks of properties, too. Prices are falling still, although the rate of descent has slowed down. My county went from a median priced house of around $390K to today's median price of around $210K.
Take away all the assinine Crazy Eddie giveaways that the government has tossed out like so many fish to barking seals, and the market at some point will need to stand on its own. Toss in the always turbulent Middle East and oil market, and the impending economic collapse of Greece, and it's enough to drive a man to drink.
Anyway, the rantings of an old fool. Carry on. . .
How can we have a healthy housing market with such a sick job market? Still loads of inventory, especially in the condo sector. Banks are holding huge blocks of properties, too. Prices are falling still, although the rate of descent has slowed down. My county went from a median priced house of around $390K to today's median price of around $210K.
Take away all the assinine Crazy Eddie giveaways that the government has tossed out like so many fish to barking seals, and the market at some point will need to stand on its own. Toss in the always turbulent Middle East and oil market, and the impending economic collapse of Greece, and it's enough to drive a man to drink.
Anyway, the rantings of an old fool. Carry on. . .
QUOTE (MichaelC @ May 5 2010, 05:10 PM)
Man, I am shocked to read that some markets are rocking and rolling. Here in south FL, it's nowhere near that. How can it be? Last month's unemployment figure for the state was at an all time historical high of 12.3%. How can we have a healthy housing market with such a sick job market?
Still loads of inventory, especially in the condo sector. Banks are holding huge blocks of properties, too. Prices are falling still, although the rate of descent has slowed down. My county went from a median priced house of around $390K to today's median price of around $210K.
Take away all the assinine Crazy Eddie giveaways that the government has tossed out like so many fish to barking seals, and the market at some point will need to stand on its own. Toss in the always turbulent Middle East and oil market, and the impending economic collapse of Greece, and it's enough to drive a man to drink.
Anyway, the rantings of an old fool. Carry on. . .
How can we have a healthy housing market with such a sick job market? Still loads of inventory, especially in the condo sector. Banks are holding huge blocks of properties, too. Prices are falling still, although the rate of descent has slowed down. My county went from a median priced house of around $390K to today's median price of around $210K.
Take away all the assinine Crazy Eddie giveaways that the government has tossed out like so many fish to barking seals, and the market at some point will need to stand on its own. Toss in the always turbulent Middle East and oil market, and the impending economic collapse of Greece, and it's enough to drive a man to drink.
Anyway, the rantings of an old fool. Carry on. . .
I am with you MC. I am working on about 5 short sales in Palm Beach and the prices down there are something. I gotta pull comps almost every other week just to be sure I am not shooting myself in the foot.
I can't explain it either MC. Unemployment is at 9.9% for Waterloo Region, which is one of the highest in Canada, and yet our real estate market is booming. Housing sales are way up from last year, but prices are about the same.
Reminds me right before the RE bubble popped and no one could believe it would end. I am not sure if housing is a great economic forecaster and unemployment lags behind. In my area we are still at 11% unemployment and housing is flat. Yet the shopping malls are packed like it is Christmas, lines everywhere. Strip malls have vacancies and commercial RE is flat, but I am now seeing construction on some vacant retail stores, up-fitting for new business. Who knows?
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